The Globe and Mail reports in its Wednesday, June 13, edition that Morgan Stanley analyst Piyush Sood expects Barrick Gold ($13.16) to continue to underperform its peers (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that Mr. Sood expects Barrick's share price to fall further through the end of the calendar year. Mr. Sood downgraded his rating to "underweight" from "equal weight." Mr. Sood lowered his share target to $12 from $14. Analysts on average target the shares at $15.49. Mr. Sood sees better opportunities at Newmont Mining, which he raised to "overweight" from "equalweight." Mr. Sood says in a note: "With gold prices nearly unchanged this year, NEM is up 3 per cent, while ABX is down 9 per cent. Some investors may think ABX now looks cheap, but we disagree and expect ABX's underperformance to widen through the year. Ahead of a final agreement between ABX and the government of Tanzania, we are downgrading ABX. While the absolute upside and downside in NEM and ABX (4 per cent and negative 9 per cent) are small, we think this relative pairing is more important, especially when considering Morgan Stanley's view for sideways gold prices in the coming months."